Estimates show that imports at major US retail container ports dropped to their lowest level in five years in March, and imports are projected to remain significantly below normal levels through early summer as the COVID-19 pandemic continues.
The projections are part of the latest Global Port Tracker report released by the National Retail Federation and Hackett Associates. (The report, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the US ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. )
“Even as factories in China have begun to get back to work, we are seeing far fewer imports coming into the United States than previously expected,” said Jonathan Gold, VP for supply chain and customs policy, NRF. “Many stores are closed, and consumer demand has been impacted with millions of Americans out of work. However, there are still many essential items that are badly needed and because of store closures cargo may sit longer than usual and cause other supply chain impacts.”
The largest drop is forecast for the first half of this year but with uncertainty about the length of the lockdown and extent of the pandemic, the second half may not be in better shape, noted Hackett Founder Ben Hackett.
